European bourses are on pace to snap their six-day winning streak

The Dow Jones Industrial Average (INDEXDJX:.DJI) is poised for a second straight day in the red, as a negative earnings reaction to blue-chip component Cisco Systems, Inc. (NASDAQ:CSCO) weighs on the 30-stock index. Elsewhere, Fed Chief Janet Yellen's scheduled testimony in front of the Senate Banking Committee -- an anticipated market-moving event -- has been postponed due to a winter storm that hit the D.C. area overnight. The new date has yet to be announced. However, investors will have a trio of economic reports to digest in today's session, including retail sales figures for January, weekly jobless claims, and business inventories.

As for the S&P 500 Index (SPX), "We continue to watch the 1,770 and 1,800 levels on the downside, and the 1,850 level -- site of the all-time highs rejected in January -- on the upside," noted Schaeffer's Senior Trading Analyst Bryan Sapp.

Plus, our Trading Topic of the Week -- Learning to Trade Like the Pros: Develop a healthy sense of skepticism. There's no need to be a knee-jerk cynic, but it certainly pays to be wary of "hot tips" and "sure things" -- no matter where they come from.

And now, on to the numbers...

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 52 points below breakeven.

"The new Investors Intelligence (II) poll surfaced yesterday, and the data is showing yet another drop in bulls," Sapp added. "While there is a lag to the report (the data was recorded on Feb. 7), we continue to see growing skepticism toward stocks right now."

Currencies and Commodities

The U.S. dollar index is eyeing a 0.4% drop ahead of the bell, with the currency last seen at 80.37.

Elsewhere, crude oil is poised to surrender its newfound perch atop the century mark, with crude for March delivery down 0.7% at $99.23 per barrel.

Gold futures, meanwhile, are on pace to break their six-day winning streak, with the front-month contract 0.2% lower to hover near $1,291.90 an ounce.